Published May 20, 2016 1:16pm EDT | Updated May 20, 2016 2:04pm EDT

Baker Hughes Says Weekly U.S. Oil-rig Count Is Unchanged

Oil futures lost more ground after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude was unchanged after falling over the last eight weeks in a row. The U.S. oil-rig count stood at 318 as of Friday. The total U.S. rig count fell 2 to 404. June crude was at $47.76 a barrel on the New York Mercantile Exchange, down 40 cents, or 0.8%. It was trading at $48.43 before the data.